Summary: SocialFi combines social media and crypto to allow monetized social interactions, gaining popularity through platforms like friend.tech, but debated whether it is a sustainable trend or just hype.
What SocialFi is:
- Combination of social media and crypto finance.
- Allows monetizing social interactions.
Why it became popular:
- friend.tech on Base L2 chain caused hype around influencer "keys".
Reactions to SocialFi:
- Some see it as an innovative experiment.
- Critics view it as insiders profiting from liquidity.
Trending SocialFi protocols:
- friend.tech, Qrolli, DeSo allow monetized content.
- Potential to disrupt social media but unclear if sustainable.